MUSCAT : The Center’s data indicated that local liquidity (M2) in the Sultanate of Oman increased to about RO 3.2 billion by the end of March 2024 to record RO 24,242,100,000, an increase of 15.2 percent compared to the same period in 2023.

The total cash issued increased by 2.4 percent, recording RO 1,671,600,000 at the end of March 2024, compared to RO 1,632,400,000 at the end of March 2023.

The narrow money supply (M1), which consists of total cash outside the banking system, in addition to current accounts and demand deposits in local currency, also increased by 9.2 percent, recording RO 6,583,800,000, compared to RO 6,27,100,000 at the end of March 2023.

The total foreign assets of the Central Bank of Oman also increased by 3.4 percent, recording a value of RO 6,699,600,000 at the end of March 2024, compared to RO 6,476,500,000 the end of March 2023.

Private sector deposits in commercial banks and Islamic windows – by the end of March 2024 – amounted to about RO 20,152,500,000, an increase of 13.7 percent over the same period in 2023, which witnessed private sector deposits of RO 17,731,800,000.

The total loans and financing in commercial banks and Islamic windows increased by 2.9 percent, by the end of March 2024, to reach RO 30,762,500,000, compared to RO 29,899,100,000.

The average interest rate on total loans increased by 3.4 percent, as it recorded a rate of 5.563 percent at the end of March 2024.

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